steve kingston distorts our coverage. >> it has been a ferocious fight. nerves frayed, reputations guard on both sides. but finally it is over. >> congress has approved a compromise to reduce the deficit and avert a default that would have devastated our economy. it was a long and contentious debate. >> the agreement was sealed by a vote in the senate. who got the better deal? listen to the difference between gleeful republicans and reluctant democrats. >> this is a welcome change in behavior, and i gladly support it. make no mistake. this is a change in behavior from spend, spend, spend to cut, cut, cut. >> to be frank, almost everything else about this bill states, and it stinks to high heaven. >> it has come to this because america is deep in the red. with every dollar the government spends, 40 cents is borrowed money. congress sets a ceiling on that, currently a little over $14 trillion. the government will hit that ceiling today, but this bill raises it by a further $2.40 trillion in exchange for spending cuts. the white house admits that at times th